Bill > S01115

This bill amends the New York state tax law to reduce the sales tax rate from 4% to 2% for goods or services purchased from small, local businesses that meet specific criteria. Specifically, the reduced tax rate applies to businesses that: employ 20 or fewer people, are based in New York state, are independently owned and operated, and are not dominant in their particular industry. The tax reduction is designed to provide a financial advantage to small, local businesses by lowering the tax burden on their sales. The bill will take effect on the first day of the sales tax quarterly period that begins at least 90 days after the law is enacted, with application following the transitional provisions outlined in the state tax law. This legislation aims to support small businesses by making their products and services more affordable to consumers through a lower sales tax rate.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S1115